Janney Montgomery Scott LLC Decreases Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Janney Montgomery Scott LLC lowered its position in shares of Hormel Foods Co. (NYSE:HRLFree Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 320,374 shares of the company’s stock after selling 8,088 shares during the period. Janney Montgomery Scott LLC owned about 0.06% of Hormel Foods worth $10,287,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HRL. Janiczek Wealth Management LLC grew its stake in shares of Hormel Foods by 100.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 2,061 shares of the company’s stock worth $66,000 after purchasing an additional 1,033 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Hormel Foods by 21.1% in the 4th quarter. Federated Hermes Inc. now owns 2,069 shares of the company’s stock worth $66,000 after buying an additional 361 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of Hormel Foods by 516.5% during the fourth quarter. Sound Income Strategies LLC now owns 2,546 shares of the company’s stock valued at $82,000 after buying an additional 2,133 shares during the period. RIA Advisory Group LLC bought a new position in shares of Hormel Foods during the fourth quarter valued at approximately $86,000. Finally, Covestor Ltd lifted its stake in Hormel Foods by 23.7% in the third quarter. Covestor Ltd now owns 2,927 shares of the company’s stock worth $111,000 after acquiring an additional 561 shares during the period. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $36.31 on Friday. The company has a 50 day simple moving average of $34.89 and a two-hundred day simple moving average of $32.72. Hormel Foods Co. has a fifty-two week low of $28.51 and a fifty-two week high of $41.73. The company has a market capitalization of $19.89 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 3.50 and a beta of 0.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.79 and a current ratio of 1.49.

Hormel Foods (NYSE:HRLGet Free Report) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Analysts expect that Hormel Foods Co. will post 1.59 EPS for the current fiscal year.

Hormel Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, March 25th were given a dividend of $0.2825 per share. This represents a $1.13 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, April 12th. Hormel Foods’s dividend payout ratio (DPR) is 77.40%.

Insider Buying and Selling at Hormel Foods

In other news, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $34.18, for a total value of $526,372.00. Following the transaction, the vice president now owns 68,029 shares in the company, valued at $2,325,231.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $34.95, for a total value of $349,500.00. Following the completion of the sale, the senior vice president now directly owns 38,708 shares in the company, valued at approximately $1,352,844.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.18, for a total transaction of $526,372.00. Following the transaction, the vice president now owns 68,029 shares in the company, valued at approximately $2,325,231.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,800 shares of company stock worth $1,414,872. 0.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on HRL. JPMorgan Chase & Co. boosted their price objective on shares of Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. The Goldman Sachs Group raised their price objective on shares of Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a report on Friday, March 1st. Citigroup assumed coverage on Hormel Foods in a report on Thursday, February 1st. They set a “neutral” rating and a $31.00 target price on the stock. Finally, Barclays raised their target price on Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, Hormel Foods presently has a consensus rating of “Hold” and an average price target of $31.00.

View Our Latest Research Report on Hormel Foods

Hormel Foods Company Profile

(Free Report)

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.

Featured Stories

Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Co. (NYSE:HRLFree Report).

Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.